ABSTRACT

COVID-19: Role of the International Financial Institutions [May 4, 2020]   [open pdf - 1MB]

From the Document: "The international financial institutions(IFIs), including the International Monetary Fund (IMF), the World Bank, and regional and specialized multilateral development banks, are mobilizing unprecedented levels of financial resources to support countries responding to the health and economic consequences of the COVID-19 [coronavirus disease 2019] pandemic. [1] More than half of the IMF's membership has requested IMF support, and the IMF has announced it is ready to tap its total lending capacity, about $1 trillion, to support governments responding to COVID-19. [2] The World Bank has committed to mobilizing $160 billion over the next 15 months, and other multilateral development banks have committed to providing $80 billion during that time period. [and 3] At the urging of the IMF and the World Bank, the G-20 [group of twenty] countries in coordination with private creditors have agreed to suspend debt payments for low-income countries through the end of 2020. Policymakers are discussing a number of policy actions to further bolster the IFI response to the COVID-19 pandemic."

Report Number:
CRS Report for Congress, R46342
Author:
Publisher:
Date:
2020-05-04
Series:
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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